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Barnes & Noble Signs 10-Year Lease At Bridgehampton Commons Shopping Center
LEASED
New York
See Similar DealsRetail9,000 SF
Leased 05/12/2023
LEASED
Barnes & Noble Signs 10-Year Lease At Bridgehampton Commons Shopping Center
2044 Montauk Highway Bridgehampton, New York 11976, USA
See Similar DealsRetail9,000 SF
Leased 05/12/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:9,000 SF
Transaction Type:Lease
Barnes & Noble is set to open a 9,000-square-foot store at Kimco Realty's Bridgehampton Commons shopping center on Montauk Highway in October. The new Hamptons location is part of Barnes & Noble's comeback strategy, which includes opening 30 stores this year and following a smaller footprint format in markets where the usual massive spaces don't make sense.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Not available
- Address: 2044 Montauk Highway
- Market: Bridgehampton
- SF: 9,000
Kimco Realty, represented by Conor Flynn, is the landlord for the property. The tenant, Barnes & Noble, is making a strategic move by opening a new store in Bridgehampton. This expansion is part of their plan to open 30 stores this year and adapt to a smaller footprint format in certain markets. The 10-year lease agreement solidifies Barnes & Noble's return to the retail scene.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$515,874.57
Total Lease Value
$5,158,745.69
Net Landlord Cash Flow$515,874.57
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